Visa and Mastercard block many financial transactions in Russia

We are on the sixth day of the Russian invasion of Ukraine and several news lines have already been written, giving knowledge of a variety of information hitherto unimaginable or, at least, impossible. But the truth is that the world is against Russia and this shows in the countless decisions taken by almost every country in the world against the government of Vladimir Putin.

In this sense, the latest information shows that Visa and Mastercard have also blocked a number of financial operations involving Russian companies and entities. The action stemmed from compliance with US sanctions imposed on the Russian country.

Visa and Mastercard block Russian companies from their operations

This is another brutal consequence of the war waged by Russia against Ukraine, which will have another strong impact on the Russian financial system. American companies Visa and Mastercard have complied with the sanctions imposed by their country and have blocked several financial transactions from their network to several financial institutions in Russia.

Visa said on Monday (February 28) that it was taking immediate action to ensure compliance with the imposed sanctions, also mentioning that it would donate US$2 million for humanitarian aid. Mastercard has also promised to contribute with $2 million and explains this decision by saying that:

Given the emerging emergency situation, we are also working with our partners to manage funding and humanitarian assistance where they can have the greatest impact.

Visa and Mastercard block many financial transactions in Russia

According to Reuters, US government sanctions are forcing Visa to suspend access to its network for entities listed as Specially Designated Nationals. The United States added several Russian financial companies to the list, including the Central Bank of Russia and the second largest lender, VTB.

This information comes after another large number of computer attacks that took place yesterday on Russian services, which led to the crash of the website of Sberbank, the largest in Russia and Eastern Europe, as well as of the Federal Security Service, FSB, the country of Putin.

Also Read – Satellite image shows Russian troops approaching Kyiv
Also Read – Ukraine raises over $10 million in cryptocurrency donation
Also Read – FIFA bans Russian national teams and teams from all competitions

One thought on “Visa and Mastercard block many financial transactions in Russia”

Leave a Reply

%d bloggers like this: